Pinecrest National
Complaint 10596 Details

I applied for a $10,000 loan and was contacted by Marsha Lennox of Pinecrest National in New York. She said I was approved for my loan by an outside company called Cardif Pinnacle and would send me over the loan application. She then called me back and said that Cardif Pinnacle was asking for loan insurance in the amount of $865.65 wich would be 3 monthly payments on my loan. I wired the money and was promised my loan within 24 hours. The next day I called because no funds had been transferred into my account and Marsha then began to tell me that they needed more money (15% of my loan before they would approve it.) Being desperate for the loan I wired another $577.10 and Marsha said that Pinecrest National would pickup one of my payments for the inconvenience. I was supposed to get my loan that day after wiring the extra money but still no luck. I waited all weekend and still nothing. I called Monday morning and Marsha said that Cardiff Pinnacle wanted to drop me from the loan because of my credit and that Pinecrest National would refund my $1515.65 within 10-14 days. I have yet to see a refund and I feel like a fool for being scammed into this mess. I hope this helps anyone looking at these companies..they should not be trusted. Also, I have talked to other loan companies since and they said that NO company should ask for money upfront for any kind of loan, the only reason you should pay someone is if it is a finder's fee.